In a puzzling turn of events, Teboho Kobeli, the Managing Director of Afri Expo Textiles Pty Ltd and a prominent figure in Lesotho’s political scene, found himself in hot water this week during a Public Accounts Committee (PAC) inquiry.
Instead of showcasing his business prowess, he left members with a strong impression that the 10,000 Duty Free shares he now holds were presented to him on a silver platter rather than purchased outright.
When pressed for evidence of his acquisition, Kobeli’sresponses seemed to dance around the issue. He struggled to recall how much he had actually paid for the shares, leaving the committee with more questions than answers. Ultimately, they were forced to conclude that these shares may have been obtained through dubious means, with allegations swirling that he exploited his political connections to benefit his company.
Kobeli’s reluctance to provide proof of legitimacy was notable. He voiced a range of excuses, claiming not to be obligated to discuss certain matters, arriving unprepared for the hearing,
And expressing concerns about protecting his clientele and business interests.
The Backstory of Duty Free Sourcing Inc.
Duty Free Sourcing Inc made its entrance into the South African market in 2014, quickly making headlines for its positive impact on the lives of many Basotho through job creation. However, the tides turned in November 2023 when the Lesotho National Development Corporation (LNDC) extended a M10 million loan to the company. Unfortunately, Duty Free has struggled to meet its repayment obligations, a situation that only escalated when Kobeli joined the company in January 2025, raising suspicion of political interference in a financially fraught transaction aimed at erasing debt.
How Kobeli Ended Up Before the PAC
The drama began to unfold during a session with the LNDC, where Interim CEO Molise Ramaili revealed that a “special loan” was granted to Duty Free, a move that clearly contradicted corporate policy and legal advice. After Kobeli’stakeover, the LNDC communicated its demands for compliance, but it was met with empty promises.
Adding to the intrigue, Thabiso Lekitla’s name resurfaced in connection with the LNDC’s proceedings, a familiar face linked to controversy. Apparently, Lekitla had challenged Kobeli’s choice to invest in a company with a precarious financial standing. Employees of the LNDC had previously identified Lekitla in their Save LNDC Campaign as a key player behind Ramaili’s interim appointment, thus making it imperative for him to protect his CEO amid questionable loan decisions.
In light of these revelations, Kobeli has been tasked with repaying the M6.5 million that Duty Free owes to the LNDC, along with 5 percent interest and a hefty additional 25 percent default fee, all by November 3.
